{"id":1735217,"date":"2022-11-11T11:48:10","date_gmt":"2022-11-11T16:48:10","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1735217"},"modified":"2022-11-11T11:48:12","modified_gmt":"2022-11-11T16:48:12","slug":"biden-doubles-down-on-student-loan-cancellation-despite-federal-ruling","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-doubles-down-on-student-loan-cancellation-despite-federal-ruling\/","title":{"rendered":"Biden Doubles Down On Student Loan Cancellation Despite Federal Ruling"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-doubles-down-on-student-loan-cancellation-despite-federal-ruling%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1735217&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The <a href=\"http:\/\/dailywire.com\/topic\/biden-administration\" target=\"_blank\" rel=\"noopener\">Biden administration<\/a> doubled down on its move to <a href=\"https:\/\/www.dailywire.com\/topic\/student-loans\" target=\"_blank\" rel=\"noopener\">cancel student debt<\/a> for millions of borrowers after a federal judge nixed the controversial program.<\/p>\n<p>U.S. District Judge Mark Pittman in the Northern District of Texas <a href=\"https:\/\/www.dailywire.com\/news\/breaking-federal-court-declares-bidens-student-loan-bailout-is-illegal\" target=\"_blank\" rel=\"noopener\">declared<\/a> the debt cancellation plan illegal on Thursday evening in response to a <a href=\"https:\/\/www.dailywire.com\/news\/shifting-the-burden-to-taxpayers-biden-slammed-with-lawsuit-against-student-loan-power-grab\" target=\"_blank\" rel=\"noopener\">lawsuit<\/a> filed by the Job Creators Network Foundation\u2019s Legal Action Fund. The student loan cancellation plan would <a href=\"https:\/\/www.dailywire.com\/news\/breaking-biden-announces-details-of-student-loan-cancellation-plan\" target=\"_blank\" rel=\"noopener\">eliminate<\/a> $10,000 in debt for borrowers earning under $125,000 per year and $20,000 for students who attended college using Pell Grants.<\/p>\n<p>White House Press Secretary Karine Jean-Pierre said in a <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2022\/11\/10\/statement-by-white-house-press-secretary-karine-jean-pierre-on-the-district-courts-ruling-on-the-biden-harris-administrations-student-debt-relief-program\/\" target=\"_blank\" rel=\"noopener\">statement<\/a> that an appeal has already been filed. \u201cThe President and this administration are determined to help working and middle-class Americans get back on their feet, while our opponents \u2014 backed by extreme Republican special interests \u2014 sued to block millions of Americans from getting much-needed relief,\u201d she remarked. \u201cWe will never stop fighting for hardworking Americans most in need \u2014 no matter how many roadblocks our opponents and special interests try to put in our way.\u201d<\/p>\n<p>The Department of Education has received applications from 26 million individuals seeking student loan cancellation, of which 16 million have been approved. Jean-Pierre added that the agency will \u201chold onto their information so it can quickly process their relief once we prevail in court.\u201d<\/p>\n<p>The complaint from the Job Creators Network Foundation, a conservative advocacy group, contends that the student loan elimination policy violated the notice-and-comment processes mandated by the Administrative Procedure Act. Other parties, including multiple conservative state attorneys general, have likewise <a href=\"https:\/\/www.dailywire.com\/news\/federal-judge-dismisses-republican-led-challenge-to-biden-student-debt-bailout\" target=\"_blank\" rel=\"noopener\">filed suit<\/a> over the debt cancellation effort.<\/p>\n<p>Job Creators Network Foundation President Elaine Parker celebrated the judge\u2019s decision in a statement provided to The Daily Wire. \u201cThe court has correctly ruled in favor of our motion and deemed the Biden student loan program illegal,\u201d she said. \u201cThe judge criticized the Biden administration program, calling it \u2018one of the largest exercises of legislative power without congressional authority in the history of the United States.\u2019 This ruling protects the rule of law which requires all Americans to have their voices heard by their federal government.\u201d<\/p>\n<p>The White House has also extended the <a href=\"https:\/\/www.dailywire.com\/news\/nationwide-pause-on-student-loan-debt-set-to-expire-biden-officials-expected-to-update-borrowers-soon\" target=\"_blank\" rel=\"noopener\">pause<\/a> on federal student loan repayment to January 2023 and will permit borrowers with undergraduate loans to cap payments at 5% of monthly income. One <a href=\"https:\/\/www.cbo.gov\/system\/files\/2022-09\/58494-Student-Loans.pdf\" target=\"_blank\" rel=\"noopener\">estimate<\/a> from the Congressional Budget Office predicts that the overall cost of the debt elimination could reach $400 billion, with another $20 billion incurred by the extended pause on repayments.<\/p>\n<p>\u201cThis attempted illegal student loan bailout would have done nothing to address the root cause of unaffordable tuition: greedy and bloated colleges that raise tuition far more than inflation year after year while sitting on $700 billion in endowments,\u201d Parker continued. \u201cWe hope that the court\u2019s decision today will lay the groundwork for real solutions to the student loan crisis.\u201d<\/p>\n<p>Though President Joe Biden <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2022\/10\/21\/remarks-by-president-biden-on-student-loan-forgiveness\/\" target=\"_blank\" rel=\"noopener\">claimed<\/a> that \u201cnot a dime\u201d of the debt cancellation will benefit the top 5% of earners, data have indicated that student loan forgiveness largely helps individuals who are poised to earn the most from their degrees, as graduate-level education is <a href=\"https:\/\/www.dailywire.com\/news\/schumer-slams-fat-cats-who-dont-want-to-cancel-student-loans\" target=\"_blank\" rel=\"noopener\">often necessary<\/a> for the most lucrative professions. A <a href=\"https:\/\/www.brookings.edu\/research\/student-loan-forgiveness-is-regressive-whether-measured-by-income-education-or-wealth\/\" target=\"_blank\" rel=\"noopener\">report<\/a> from the Brookings Institution observed that one-third of student debt is owed by the wealthiest 20% of households, while only 8% is owned by the bottom 20%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Biden administration doubled down on its move to cancel student debt for millions of borrowers after a federal judge nixed the controversial program. U.S. District Judge Mark Pittman in the Northern District of Texas declared the debt cancellation plan illegal on Thursday evening in response to a lawsuit filed by the Job Creators Network &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1724774,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-1735217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1735217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1735217"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1735217\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1724774"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1735217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1735217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1735217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}